What if a multi-billionaire organisation were to buy a large amount of bitcoin (for example 30%) only to destroy the private key associated to the wallet and brag about it all over the internet ?
First, would it be possible to prove the loss of the private key ? no
Second, How the market would react ?
LOL. They have worked hard to be a super billionaire and would just lose it in purpose? I doubt any person with the right frame of mind would do it? Of course the price swing will be greater. Because bitcoin then will be scarce since he has accumulated more. But then again, I can't really think that a person will remotely do it, what would be his purpose? Billionaires would rather buy lavish cars, jets, expensive yacht and other material things. But buying bitcoin then destroying the private keys, and bragging about it? I doubt it will happen in reality. Maybe in movies.